EV investments: EVgo, Aptiv among stocks to watch

While Wall Street is keeping a close eye on stocks of EV makers like Tesla (TSLA), there are several other names for investors to consider in the EV space. Craig Irwin, ROTH Capital Partners Senior Research Analyst, and Ronald Jewsikow, Guggenheim Securities Vice President – Automotive Equity Research, join Yahoo Finance Live to discuss their top EV stocks to watch as part of the weekly series "EVs: The Road Ahead."

One company to keep an eye on is EVgo (EVGO, EVGOW). According to Irwin, EVgo is "seeing actually charging rates on their networks become 10 percent of miles driven versus what they were at about 5 percent just a couple years ago." Irwin added, "I think the investment in infrastructure is the right thing to do because it drives jobs in America."

Among the EV tier 1 suppliers, Jewsikow sees Aptiv (APTV) as one to watch. Jewsikow explained, "They make electrical architecture, so you think of connectors and wiring, kind of the guts of the vehicle." He added, "They have business with almost every electric vehicle manufacturer in the world, that includes Tesla among others."

Watch all of Yahoo Finance's special coverage "EVs: The Road Ahead."

Video Transcript

CRIAG IRWIN: The EV industry is going to change the future versus what combustion engines have been doing. So infrastructure is a very, very important part of adoption. Frankly, to build the EV charging infrastructure out there, we probably need another $10 to $20 billion on top of the $7 and 1/2 that's been set aside.

One of the stocks we're recommending investors look at closely is EVgo. We're bullish on EVgo right here. Why? Because even though inventories are climbing on the lots of the mainline auto dealers-- many of them are seeing their inventories at 90 days or plus. EVgo is not seeing it. They're seeing actual charging rates on their networks become 10% of miles driven versus what they were at about 5% just a couple years ago. And you compare that to Tesla drivers, you know, 15% out there. So there's a discrete mix towards people charging not in their home, not at their workplace, but to using EV chargers to go longer distances, drive their EVs more.

I think the investment in infrastructure is the right thing to do because it drives jobs in America, and, you know, it's not really that heavy compared to some of these other things that have happened out there.

RONALD JEWSIKOW: In the tier-one suppliers, I think Aptiv is the best way to play electrification. It's global scale. They make electrical architecture, so you think of connectors and wiring, kind of the guts of the vehicle, as well as they have a pretty large ADAS and infotainment segment.

But specific to electrification, their content on an electric vehicle is more than twice as high as their content on an ICE vehicle. They have business with almost every major electric-vehicle manufacturer in the world. That includes Tesla, among others.

So you think about electric vehicle adoption where it's stronger right now in Europe and China. Aptiv is a way to play that. It's a global name, global footprint. They actually make-- they generate more revenue and more growth from electric-vehicle adoption in Europe and China today.